Completion of any one of the above stages would allow
occupation (at different levels of completion) by around the time of Purim.

2) Financing

Laurie Heller gave her opinion that large sums of money
cannot be raised from overseas at this point, and that Ira Rennert could not be
expected to contribute additional sums. This assessment, if correct, meant that
the above sums would have to be raised within the kehilla. Although up until
now fundraising within the community had been on a voluntary basis, the capital
campaign committee recommended that the required sums be raised by adding an
additional building levy to membership dues. In particular, this would give
future members a share in the costs of the new building and their own personal
stake in the community. The policy of discounting the costs of membership to
anyone requesting it for reasons of financial hardship would continue, and
hence the calculations below are made on the basis of less than 100% of the
present membership.

3) Raising the
required additional funds from adding a building levy to membership dues

Assuming a base of 100 units of membership (at present there
are approximately 130) over a 10 year period and further assuming that during
this period no additional funds were to be raised from other sources (a highly
unlikely worst case scenario), the additional levy required to raise the sums
mentioned above was estimated as follows:

To raise $35,000 for stage 1 only - approximately 20 shekels
per month, over a 10 year period

To raise $125,000 for stages 1 and 2 only- approximately 60
shekels per month, over a 10 year period

It was envisaged that the additional funds required for
stage 3 - furniture and furnishings - would be raised from outside of the
community and possibly by incomes generated through hiring out the building for
communal use (see 4.5 below).

4) Discussion

During a wide ranging discussion the following viewpoints
were expressed:-

4.1 It is incorrect to present the above as the only
options. Indeed, another would be to raise no further funds and move in
"as is"

4.2 Although the building will be usable, even if no
additional funds are raised, it will not be comfortable. It would be important
for the kehilla to "feel good" in the new building.

4.3 The new building would cost a considerable sum to
maintain, and therefore there will need to be an inevitable increase in annual
dues, irrespective of the proposed building levy.

Whilst it was not clear what the exact increase in dues to
cover maintenance will be, a sum of around 600 shekels a year was believed to
be a reasonable estimate. For members increasing their donations as above, this
could mean a further 1200 NIS per membership unit per year.

4.4 Membership costs at the level mentioned above may
exclude certain people from joining Yedidya, especially young families, of
which there are not that many at present. Although the possibility of applying
for a discount may be available, some families would feel uncomfortable in
doing so. Consideration should therefore be given to raising the sums by
voluntary donation.

4.5 Whilst the above increase in membership costs is
possible, the hope has always been that we will be able to hire out the
building for communal use and that incomes generated will offset these
potential costs. Work has already begun to explore uses of the building on
these 2 bases, i.e. service to the community and income generation.

4.5 The extent to which the decision of this general meeting
mandates the whole community on the issue mentioned in 4.4 above has to be
clarified.

5) Decision

Options were put to a vote, the results of which were as follows:

For targeting a $125,000
loan- 34 votes

For targeting a $35,000
loan-2 votes

For not taking any
loans and moving in 'as is'- 2 votes

It was decided to target an additional loan of $125,000, and
a moving in date of Purim.

CO-CHAIRMANSHIP OF THE AMUTA

Pamela and Neil Pearlman were unanimously elected to
continue co-chairing the amuta for a further two-year period.